Paul Atkins Moves Closer to Becoming SEC Chair as Senate Panel Advances His Nomination
The Senate Banking Committee on April 3, 2025, voted 13 to 11 to advance the nomination of Paul Atkins to …
States, Policy Orgs Support Crypto Trader in Fourth Amendment Claim Against IRS
A group of states and nonprofit policy organizations encouraged the Supreme Court to grant cert to a digital asset exchange …
Republicans Celebrate House Passage of DeFi Broker CRA
Biden-era regs classifying some decentralized digital asset entities as brokers subject to IRS reporting rules are one step closer to …
SEC Crypto Task Force Sets First Roundtable as Staff Declares ‘Meme Coins’ off Limits
The SEC’s newly formed cryptocurrency task force will devote its first in a series of roundtables to divining the security …
Cryptocurrency – Global Regulatory Updates
Background A bit of history about cryptocurrency. Bitcoin was the first cryptocurrency created and was launched in January 2009 by …
Digital Asset ‘Middleman’ Reporting Regs, Transition Relief Issued
The IRS has issued final regs that include participants in the decentralized digital asset space that provide trading front-end services …
IRS Criminal Investigation Boasts 90% Conviction Rate in FY24
In its fiscal year 2024 annual report, the IRS Criminal Investigation (IRS-CI) unit announced its workforce grew to its biggest size …
Advice for Practitioners on Unused Digital Asset Basis Safe Harbor
A digital asset tax expert and an IRS official advised practitioners to consider their options presented in recent guidance that …
Circuit Court Revives Crypto Reporting Legal Challenge
In partially reversing a lower court’s dismissal of multiple constitutional challenges to the amended Code section requiring the disclosure of …
Crypto Sector Slow to Adopt New Accounting Rules Despite Years of Advocacy
Despite years of pressing the FASB to develop a standard, the crypto sector has not been scrambling to adopt new …